According to veri from the German Federal Statistical Office (Destatis), seasonal and calendar-corrected exports to the country fell by 0.5 percent compared to the previous month in September, despite the expectation of a 0.1 increase. per cent, to 134.5 billion euros.
In September, imports fell by 2.3 percent to € 130.8 billion. Thus, Germany’s foreign trade surplus, adjusted for seasonal and calendar effects, became € 3.7 billion. In September 2021, this surplus was recorded at 11.7 billion euros.
Compared to September 2021, exports increased by 20.3% and imports by 30.7%. In Germany, 73.4 billion euros of September exports were made to European Union (EU) countries. 64.3 billion euros of the country’s imports came from the EU.
Compared to August 2022, exports to EU countries decreased by 1.7% and imports from these countries decreased by 1.2%.
EXPORTS TO CHINA DECREASED BY 2%.
According to Destatis veri, Germany’s exports to China, its most important trading partner, fell by 2% compared to August, to € 8.9 billion.
Over the aforementioned period, Germany’s other major trading partner, the United States, increased its exports by 5.6 percent to € 14.5 billion.
German exports to Russia fell by 5.4% in September to 1 billion euros. Imports from Russia, on the other hand, fell by 33.1 percent to 1.8 billion euros.
“UNCERTAINTY TRUSES RELUCTANCE FOR NEW ORDERS”
Meanwhile, the Munich-based Economic Research Institute’s (Ifo) Export Expectation Index rose to minus 5.3 points from minus 6 points in October, despite high levels of uncertainty.
Ifo chairman, Clemens Fuest, said: “The situation is still difficult for energy-intensive industries such kakım the production of chemicals, glassware and metals … The high level of uncertainty triggers reluctance to accept new ones. orders from abroad “.